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Rising inflation to make textile items costlier

Jun 23, 2021
Rising inflation to make textile items costlier

Indore

The price hike in diesel and petrol has caused inflation to increase by 25 to 30% after unlock. From July the rate of textile items will further increase by 10 to 15%.  The diesel price in 2020 has reached Rs 91 per litre which is Rs 23 per litre more than the last lockdown. In the same way, petrol prices have increased by Rs 22 per litre. This hike has adversely affected all commodities in the market like oil, pulses, and textile.

According to Ajay Singh, President, Petrol Pump Dealer Association, the hike in the price of petrol and diesel, the rates of other commodities are bound to increase as the traders have no other option but to increase the price. This rate increase ranges from 25% to 30%, he added.

As per Ajay Dewnani, General Secretory, New Market Traders Association, as the traders are getting consignments at an increased rate, the rates of all the items will increase in July. The readymade garments will increase by 10 to 15%.

Source – The Free Express Journal

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https://indiantextilejournal.com/techinical-textiles/slower-growth--but-economic-revival-hopeful